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'Talking Ourselves Into A Recession': Robert Shiller, Catherine Wood Talk Disruptive Innovation, Narrative Economics

Robert Shiller, a Nobel Prize in Economics recipient and the Sterling Professor of Economics at Yale University, joined ARK Invest CEO Catherine Wood in a discussion this week about the embrace of disruptive technology in today's narrative-driven economy at the Forbes 30 Under 30 Summit in Detroit.  Shiller: Narratives Resemble The Great Depression A sort of fear bubble has emerged, with asset managers drawing upon indices, fixed income and private market assets for alpha, Shiller said.  “Hardly anyone remembers; right about 1929 — the peak of the stock market — people started to worry about technological unemployment,” said Shiller, referencing Stuart Chase’s book "Men and Machines." "[Chase] said, ‘we are now in a turning point in history. We are entering the power age … and we’re going to be seeing massive unemployment.'"  A Cause For Concern?  The uncertainty surrounding job security and technology is unsubstantiated, Wood said.  She pointed to a 2013 Oxford University paper that inaccurately concluded that 47% of American jobs would be axed by automation over the next ...Full story available on

Stock Market ‘Deflation’ Could Trigger Bear Market: Nobel Laureate Robert Shiller

By The US stock market could fall prey to deflation and tumble into a full-blown bear market in 2019. That’s what Yale University professor Robert Shiller, a Nobel Prize-winning economist, said at the 2019 World Economic Forum in Davos, Switzerland. Shiller says the Dow Jones has been recovering from its plunge in late-2018, but there’s The post Stock Market ‘Deflation’ Could Trigger Bear Market: Nobel Laureate Robert Shiller appeared first on CCN

Yale Economist Robert Shiller Says Bitcoin To Be Extinct… in 100 Years

Robert Shiller, a Nobel Prize-winning economist from Yale, has made a bold assumption really in affirming that Bitcoin could be extinct within the next 100 years. To explain his line of thought, he drew a parallel between cryptos and dinosaurs. According to him, Bitcoin will not look like what it is today in the future. It will have a different name and will possibly not even exist. With so many hard forks, it will be impossible to compare it to today and it will be a matter of dispute whether it will exist or not. However, even if the death of Bitcoin is still a hundred years away, it does not mean that BTC will not suffer in the market soon. According to him, there are significant chances that something like Bitcoin topping big prices and then falling will still happen a lot. He cites 2013 as an example of this. The token reached the value of $1,000 USD and then lost 80% of its value later. It looked like Bitcoin was done for, but it survived. Last year, the same trend happened, though the fallout was not as high as before. The prices surged and went up to $20,000 USD and then they fell to $6,400. However, even now it is still up 233% when compared to the past 12 months. “It looks like a bubble”, Shiller Affirms Shiller believes that Bitcoin looks a lot like a bubble because, from time to time, everybody gets hyped about it and then pump a lot of money in it. However, the prices fall later. He does affirm that it is a bubble, though. What he likes about Bitcoin is the enthusiasm, though. Many people are creating new coins and testing the limits of this new market, which is great for the industry. He firmly believes that, even if Bitcoin is done for in the future, something good will have to come out of this. With thousands of different ones, something is bound to happen. Shiller also has a funny story related to Bitcoin. He tells the story of when a student wanted to keep his laptop during the final exam of the semester to trade Bitcoin. Inspired by the enthusiasm of the young man, he allowed it. Robert Shiller was awarded the Nobel Prize in Economics in 2013 for his work on spotting financial bubbles. He admits to be a Bitcoin bear and does not have a lot of faith in the market, but looks to be more positive about it now.
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This week has been eventful in the crypto world. Ripple tries to rebrand its XRP coin, South Korea and China may lift their ICO ban, Bittrex is launching USD trading pairs and EOS’ long-awaited mainnet is soon to go live.

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All in this week’s News Digest: McAfee still has a lot of faith in crypto, Robert Shiller explains the roots of this faith, more new exchanges are coming, an investigation into Bitcoin price manipulation, and Verge is hacked again.

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Tron and Poloniex Relationship Scrutinized After Digibyte Delisting

The crypto firm Circle recently revealed that it was spinning off the trading platform Poloniex and has since warned customers to withdraw assets or they may be sent to state governments. Following the announcement, the founder of the crypto network Digibyte (DGB), Jared Tate, explained he was extremely upset that his friend’s and family’s sensitive personal data “is now in the hands of [Poloniex].” Not too long after Tate’s tweet, the Poloniex Twitter account responded by denying ownership of U.S. customer data, and revealed the exchange would “delist DGB soon.” Also Read: Circle Warns Poloniex US Customer Assets May Be Sent to the Government Crypto Community Discusses Poloniex Delisting Digibyte ‘After Careful Review’ The trading platform Poloniex has been scrutinized lately after the over-the-counter (OTC) digital currency management firm Circle sold the exchange in October. After the spinoff, Frank Chaparro and Celia Wan asserted that “Tron founder Justin Sun is behind Poloniex’s spin-off.” Others in the crypto industry also assumed Sun had a hand in the crypto exchange purchase. At the time, Tron (TRX) founder Justin Sun denied being behind the exchange purchase, but on November 12 he admitted he was part of a group of investors behind the Poloniex acquisition during a live-streamed broadcast published on Twitter. Moreover, since Poloniex left the Circle umbrella, U.S. customers have been banned from using the platform and asked to withdraw coins by a certain date. Circle emailed its U.S. customers this week and detailed that it may charge dormant fees to people who don’t withdraw their crypto and digital assets may be sent to governments. After the news, Digibyte (DGB) founder Jared Tate took to Twitter and said he was not very happy about the situation. The tweetstorm also attacked the Tron (TRX) network and Tate called Poloniex a “TRX shill factory after making off with U.S. customers’ sensitive data.” After discussing his dislike for the crypto and the business move Tate wrote: I am royally pissed my personal data, my friend’s and family’s data and other U.S. Digibyte customers’ most sensitive data is now in the hands of this circus that is now Poloniex. Or the TRX shill factory as we should now call it. After a careful review, we decided #DigiByte is not qualified per our listing standard. We will delist $DGB soon. Details to be announced. — Poloniex Exchange (@Poloniex) December 5, 2019 Aggressive Strategy The tweets received a response from the Poloniex Twitter account after Tate accused the company of holding U.S. data. “We don’t own any U.S. customers’ data as all of them are preserved by Circle,” the Poloniex account replied to the Digibyte founder. “By the way, after careful review, we decided digibyte is not qualified for our listing standard [and] we will delist DGB soon — Details to be announced.” After the Poloniex account announced the exchange would delist DGB, the discussion became a hot topic on social media and crypto forums. The Block analyst Larry Cermak tweeted “What’s happening with Tron and Poloniex is an embarrassment — Please don’t delist me Poloniex.” Podcaster Udi Wertheimer explained how the controversy was great marketing. “Poloniex was a completely irrelevant exchange up until a few months ago. No one remembered it existed,” Wertheimer tweeted. “Now with a new eccentric owner, and an aggressive social media strategy, it’s everyone’s favorite topic. Watch and learn plebs.” Wertheimer is right that the community and the company’s decisions have made the Poloniex and Tron relationship a trending topic within crypto circles. The recent email from Circle and the announcement that the exchange will delist DGB also follows Poloniex’s acquisition of TRXmarket. The largest decentralized exchange (dex) by volume on the Tron network was purchased by Poloniex for an undisclosed sum. What do you think about Poloniex delisting DGB? What do you think about people criticizing the relationship between Poloniex and Tron? Let us know what you think about this subject in the comments section below. Image credits: Shutterstock, and Twitter. Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here. The post Tron and Poloniex Relationship Scrutinized After Digibyte Delisting appeared first on Bitcoin News.
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Poloniex Delists DigiByte (DGB) After the Founder Criticizes TRON

Digibyte has been thrown out of the exchange Poloniex after critical words were said of TRON’s Justin Sun. What’s Next? The news must have come as a shock for many in the crypto sphere, and many believe that it came about because of Digibyte founder Jared Tate’s incessant criticism of TRON founder Justin Sun. TRON is the 12th biggest cryptocurrency in the world, and in a Twitter thread yesterday, Tate went on to criticize the project in no uncertain terms. In the aforementioned thread, Tate called Sun a ‘crook’ and eventually went on to ... ﾿ Read The Full Article On Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges. All content provided by Crypto Currency News is subject to our Terms Of Use and Disclaimer.
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Microsoft, Enjin (ENJ) Partner to Launch DLT-Based Recognition Project

Microsoft, a global tech giant has joined forces with the Enjin (ENJ) distributed ledger technology (DLT) project to launch a blockchain-based recognition program dubbed Azure Heroes. The project aims to reward tech experts from all backgrounds with unique Ethereum-based non-fungible tokens (NFTs) for their contributions to society, according to a blog post on December 4,Read MoreRead More. The post by Ogwu Osaemezu Emmanuel appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
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Dash (DASH) Upgrades Block Explorer to Offer Users More Features

Dash (DASH) one of the top privacy-protecting cryptos in existence has announced plans to update its current blockchain explorer which is built upon the Abe application programming interface (API). The new Dash explorer is based on the Insight API and it is scheduled to go live on January 7, 2020, according to a blog postRead MoreRead More. The post by Ogwu Osaemezu Emmanuel appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
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